CEE Capital Flows 2026

• Who’s the bid? - Which buyers are active now, at what return targets, and in which CEE markets first?
• Rates & Pricing - How do 2026 rate/inflation paths translate into required yields by country?
• Sector Rotation - Which leads today—nearshoring logistics, PRS/PBSA/senior, retail, prime offices, or data centers—and why?
• Legal Reality Check - Which regulatory or tax hurdles are true deal-killers vs. solvable with structuring?
• Country Dispersion - Do Poland/Czechia still price tighter than Hungary/Romania/Bulgaria—and is that justified?

Residential Investments Across CEE

Rent, Sell, or Hybrid?

• Demand & Affordability - Where is depth of demand strongest and how are affordability thresholds shaping PRS rents vs. BTS pricing?
• Capital Stack - Which senior/mezz/forward-funding structures are bankable for PRS vs. BTS—and at what leverage and spreads?
• Yield vs. Margin - Do stabilized PRS yields beat BTS gross margins after sales costs and incentives—by market and unit mix?
• Exit routes - What’s the realistic take-out—stabilized PRS sale, portfolio roll-up, or phased BTS disposals—and who buys?
• ESG & Compliance - How do EPC/EPBD upgrades impact PRS NOI and BTS pricing—who funds capex and when?

The CEE Retail Playbook

Who’s Expanding, Who’s Exiting?

• Lease Economics - Are turnover-rent mechanics, indexation, and opex caps shifting—and where are the pain points?
• Debt & Yields - Who’s lending into retail in 2026, at what LTV/spread/DSCR—and how are yields moving by country/format?
• Pipeline & Permits - What new retail parks or extensions actually pencil—what pre-lets, costs, and contingencies are bankable?
• Repurpose & Mixed-use - When does a tired mall become a mixed-use play (living, offices, civic/education) versus a disposal?
• Country Dispersion - Why do Poland/Romania price differently from Czechia/Hungary/Bulgaria/Baltics—and is the spread justified?

Value-Add & Asset Repositioning

Fix, Flex, or Flip in the CEE Region?

• Where’s the upside? - Which mispricings signal a viable value-add vs. a value trap—and how do you size the rent/NOI delta?
• Distress or Dress-up? - How do you separate solvable issues (lease, capex, management) from broken location or obsolescence?
• Data to Decisions - What analytics (footfall, ESG meters, tenant sales, comfort scores) truly change underwriting?
• Exit Timing - What’s the credible take-out—stabilized sale, portfolio roll-up, or refi to core/core+—and who’s buying in 2026?
• Country Calibration - How do Poland/Czechia underwriting hurdles differ from Hungary/Romania/Bulgaria/Baltics for value-add?

Logistics & Light Industrial Strategies

CEE Outperforming the West?

• Rents & Indexation - Are effective rents still rising after incentives—how are indexation and opex structured by market?
• Vacancy & Absorption - Where is new supply landing in 2026, and which submarkets will actually absorb it?
• Spec vs. BTS - When does speculative make sense versus build-to-suit—and what pre-let thresholds de-risk funding?
• Small-box & Last Mile - Are urban logistics/light industrial parks delivering better NOI growth than big-box—what’s the right mix?
• Exits & Liquidity - Who are the take-outs—long-income buyers, platform roll-ups, or cross-border portfolios—and on what cap/yield?

Alternative Living Assets

PBSA, Co-Living & Senior Outperforming Traditional Resi in the CEE Region?

• Demand Map - Where is depth of demand strongest (university hubs, capital cities), and how do affordability thresholds set rent ceilings?
• Capital Stack - Which senior/mezz/forward-funding/JV structures are clearing for PBSA/co-living/senior—and at what LTV/spreads?
• Ops That Work - Which lease/licence lengths, services, and staffing models deliver stable occupancy and NOI growth?
• City Selection - Which submarkets (Warsaw/Kraków, Prague/Brno, Budapest, Bucharest/Cluj, Bratislava, Sofia, Baltics) lead each format?
• Pricing vs. PRS - How do stabilized yields (PBSA/senior) and margins (co-living) compare with PRS by city?

Flight-to-Quality in CEE Offices

Upgrade, Convert, or Exit?

• Spec that Sells - Which specs (air quality, terraces, amenity mix, smart/BMS, EPC A) truly move ERV and reduce incentives?
• Refurbish vs. Reconvert - What capex scope and payback justify office-to-living/education/hospitality vs. heavy refurbishments?
• Tenant Leverage - How are indexation, fit-out packages, and rent-free periods evolving—what’s sustainable OCR?
• Development Pipeline - What’s under construction or permitted through 2026—and will it land into demand or vacancy?
• Valuation & Exits - Where are prime yields vs. secondary, and who are the take-outs—core/core+, value-add, or local family offices?